The marshalling of resources to fight the
One of the most striking announcements during the
It reminded me of a household cover I took a while back with a local insurance company. When my cell-phone (also covered) was snatched from me by robbers right at my door in an enclosed compound the company refused to compensate. That is when the notorious fine lines were fished out from some policy document I’d never been shown before. That they only compensated phones damaged accidentally, like if it fell on the floor to pieces…in the house. Proving that would of course require an investigation report from their appointed detective - skilled enough to differentiate between an accidentally dropped phone from one carelessly tossed about. Well, they refused to pay and I bought a cheaper gadget the following week and life went on.
What will happen when my house burns down? Before even their clever detectives are called in, some insurance agent in a tie (even in the
They may well argue that tenants cannot be compensated for razed rental houses, but do they compensate the owner? If not, why not? If so, why not adjust premium payments to include the tenant’s exposure to the potential calamity? Surely this cannot be beyond actuarial mathematics.
And then this years salary survey places Insurance company executives among the top five most highly paid professionals in the country!